Technavio, a tech-focused market research firm, has published a new report on the global satellite M2M connections and services market, which is expected to experience growth rate with a CAGR of close to 10% and around 15% for services and connections respectively, during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global satellite M2M connections and services market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global satellite M2M connections and services market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global satellite M2M connections and services market for 2015 (market share %)
|
Americas |
59.92% |
|
EMEA |
30.92% |
|
APAC |
9.16% |
Source: Technavio
The Americas: Largest revenue generating region for satellite M2M connections and services
The global satellite M2M services market in the Americas was valued at close to $2 billion in 2015 and will grow at a CAGR of almost 11% by 2020. Satellite communications technology is used in various applications in different industries for effective and faster broadcast. Some of these industries include mining, oil and gas, transportation, and government sectors. Satellite M2M is widely used to monitor and track assets, collecting data, weather forecasting, and communication of voice and data. North America was the highest revenue contributor in the American market during 2015. Different applications in various industries will lead the Americas to generate substantial revenues and lead the market during the forecast period.
“The service providers in the satellite M2M connections and services market is focusing on the expansion of wireless network coverage area. These services providers are installing DBS and FSS for television and radio broadcasting. Satellite M2M services have applications in the US military as well. Some of the satellite M2M used for military applications include BFT and MTS. Such extensive applications in the US, especially in North America, will propel the market growth over the period of next four years,” says Rakesh Kumar Panda, a lead analyst at Technavio, specializing in research on machine to machine (M2M) and connected devices.
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Global satellite M2M services market in EMEA
The global satellite M2M services market in EMEA was valued at around $810 million in 2015 and will grow at a CAGR of more than 7.25% by 2020. The increased demand for satellite M2M for applications like navigation, weather forecasting, and monitoring and tracking of assets will drive the market growth in this region. M2M satellite communications are widely used for data transfer through satellite equipment such as dish-TV, antenna, and amplifiers in the EMEA market. The availability of superior broadband services, growing adoption of remote equipment monitoring, and different network-based technologies such as GPS and navigation in various industries will help in the development of the market during the forecast period. Moreover, the extensive use of M2M satellite services to track and monitor vehicles and assets in the Middle East and Africa will help EMEA to maintain the market share.
Global satellite M2M services market in APAC
The global satellite M2M services market in APAC was valued at about $240 million in 2015 and will grow at a CAGR of almost 12% by 2020. The increasing expansion of wireless network coverage in countries like India and China will be the primary driver of this market. M2M signal transmissions over satellite is gaining popularity in the APAC market. Satellite M2M applications such as asset tracking in the oil and gas, mining, and local government sectors are primary uses of these services in the market. Strategic partnerships between application developers and network providers to provide end-to-end solutions to customers will fuel the growth in the market.
The top leading vendors operating in the global satellite M2M connections and services market are:
- Globalstar
- Iridium Communications
- KORE Wireless Group
- ORBCOMM
- Rogers Communications
Other prominent vendors in the market include Applied Satellite Technology, Digi International, Gemalto, Hughes Network System, Nupoint Systems, Oracle, Quake Global, Sprint, Teliasonera, and Telit.
A more detailed analysis is available in the Technavio report titled, ‘Global Satellite M2M Connections and Services Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Satellite Manufacturing and Launch Market 2015-2019
- Global M2M Services Market 2015-2019
- Global Mobile Satellite Services Market 2015-2019
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